October flew by! I had a special post planned for Halloween, but getting the family all costumed took precedence. I’ll try to get it up later this week, so stay tuned for a scary story. In the mean time, here’s our report of what we earned, spent and paid in debt during October.
This month we paid $2,276 toward debt. That includes a deposit from SmarterBucks.
Our total net income for October was: $4,365 For those who are new here, this is income that will be spent in November since we live on the last month’s income.
Etsy Income: $255 –My Etsy income is down from normal, but that’s been the trend for this time of year as the holidays approach. Many of the things I sell are baby shower-related and people avoid doing baby showers during the holiday season. It actually works out nicely to not be busy with my Etsy business during the holiday season when I’d rather be crafting and creating for my family anyway!
Blog Income: $1,141– I am so thrilled and thankful that even with increased blog expenses, my blog income is growing each month. This month I purchased the Genesis Framework and a new theme from Restored 316 Designs. Up until now, I’ve just tweaked a free WordPress theme, but I’m really excited about what the new theme will allow as far as site design and organization go. I was hoping to have a new blog design up by the end of the month, but the last few weeks have been nuts! Stay tuned!
Each month we budget down to zero using last month’s income. Our spending in October comes from the income we earned in September. In addition to the debt payments above, here’s how we spent money in October:
Tithing–$437 Earlier this month, I explained the details of why we pay a 10% tithe on our income.
Other Giving– $20 This includes other charitable giving besides tithing.
Utilities– $0 While we don’t pay utilities, we work hard to conserve resources and keep the bills down, like I mentioned recently. We do pay $30/month for extra Internet bandwidth (our Internet options in the boonies are few and expensive), but that comes out as an expense from blogging income, which is deducted before it gets to our family budget.
Republic Wireless– $22 We both have smartphones through Republic Wireless (you can read my review here). With tax, each phone comes out to $10.89 per month. We didn’t actually make any payment this month because our phone bill is covered through referral credits that we’ve earned (we count the referral credits as blog income during the month they are earned).
Health Insurance– $114 We have an ACA plan. You can read the details here.
Car Insurance– $97 We love our USAA auto insurance. They have been so easy to work with whenever we’ve needed them, which unfortunately has been inordinately often lately (see here and below under “car maintenance”).
Renters Insurance– $14 Really a small price to pay for the comfort of knowing we will be taken care of when things go wrong.
Food– $303 We went slightly over our $300 food budget for the first time since January. I may have purchased some Halloween candy that I didn’t share with anyone.
Gas– $403 We’re excited to see gas prices going down under $3. I saw it at $2.99 yesterday!
Clothing– $6 I bought a pair of denim capris at the thrift store and a clearance shirt at Target for my 6-year old’s wardrobe next year.
Household– $55 I bought some new camera batteries from Amazon and a dresser at a yard sale. All three of our kids were sharing one dresser, so it was pretty crowded, especially when we got out fall/winter clothes. It’s really nice to have a second dresser. We also got a new Sam’s Club membership though an awesome Living Social deal (good through 11/5/2014). Our previous membership had been expired for over 6 months, so we count as “new” members and qualify for the deal. I shared the deal and I got it free since 3 friends also bought it. You can read about why a Sam’s Cub membership is worth it to us here.
Fun– $37 With Halloween, this was higher than normal. I purchased a few things to use for our costumes. We also went to see a movie for a date night, which is a very unusual treat. We went to a matinee of Meet the Mormons and really enjoyed it!
Lawyer Marketing– $11 Two networking breakfasts for Mr. SixFiguresUnder.
Law Practice– $44 Monthly subscription to Mr. SixFiguresUnder’s law practice management software.
Car Maintenance– -$1,186 That’s a negative in front of that big number. My husband hit a black bear (yes, a BEAR) on his way home earlier this month. The insurance adjuster gave him the option to have his car deemed totaled and then buy it back with a salvage title or to have the car deemed repairable and get a smaller payout. The money in our pocket would be about the same either way, but not having to go through buying the car back and getting a new title was more convenient. We got $1,746 from the insurance company. We paid for the most urgent repairs ($560 for a new bumper and headlight) and will just live with the body work issues (dents in two doors, paint scrapes). There are some internal problems (oil leaks, washer fluid leak) that we will have fixed soon and will easily eat up the $1,186 remaining in this category. Sometime, I will have to tell you the “bear story” because it’s not everyday you hear one of those.
Medical– $177 We usually don’t have any medical expenses, but this month we did. I’ll share more on that later.
Gifts– $10 I bought some books at the thrift store and on Ebay for my first grader for Christmas. She is a voracious reader and eats up chapter books, so we’re excited to expand our family library.
Emergency Fund– $200 This brings up our emergency fund up to $5,004. We’ll make frequent but small payments into this fund to make sure we have something set aside if a real emergency strikes.
Note: Some links in this post are affiliate links. For more info check out my disclosure page.
How did your finances go in October?
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